The External Ventricular Drain Market is being driven by Rise in elderly population
The External Ventricular Drain Market is expected to grow at a CAGR of 6.07% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.28 billion. The External Ventricular Drain (EVD) market encompasses advanced technologies and innovative approaches that enhance neurosurgical procedures, specifically the installation of EVDs. EVDs are a critical neurosurgical intervention, often among the first procedures that neurosurgery trainees perform independently. Given the intricacy and precision required for EVD installation, trainees are taught proper techniques early in their education. Recently, virtual technology has emerged as a valuable tool to augment traditional training methods and minimize human errors. Computerized placement guidance systems and virtually enhanced practices are demonstrating significant advancements. Over the past decade, new EVD technologies, such as smartphone applications, ultrasound guides, and neuronavigation systems, have proliferated, offering improved accuracy and efficiency. Concurrently, updated resident training programs are being developed to optimize procedural learning and further refine EVD installation techniques.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (EVD system, EVD catheter and accessories) Application (Traumatic brain injury, Other non-traumatic hydrocephalus conditions, Subarachnoid hemorrhage, Intracerebral hemorrhage) Geography (North America, Europe, Asia, Rest of World (ROW)).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in External Ventricular Drain Market Research Report
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The External Ventricular Drain (EVD) market caters to the needs of neurological care providers in treating various neurological conditions, including stroke and brain injury. This technology plays a crucial role in managing cranial pressure, hydrocephalus treatment, and intracranial pressure monitoring. Neurological assessment, rehabilitation, and cognitive function improvement are also facilitated by EVDs. Neurological specialists utilize advanced neurosurgical techniques and minimally invasive neurosurgeries for brain aneurysm treatment, brain surgery recovery, and spinal cord injuries. Neurosurgical centers offer neurological condition treatment through neurosurgical procedures, neurosurgical technology, and neurosurgical innovations. Neurological disease prevention is also addressed through cerebrospinal fluid shunts and neurosurgical training. Vascular intervention and neurosurgical outcomes are significant factors influencing the market's growth.
The External Ventricular Drain (EVD) market is a significant segment of the global healthcare equipment industry, focusing on the production and sale of EVDs, ventricular drain sets, and related accessories. These products are essential for managing conditions such as traumatic brain injuries (TBI), neurovascular strokes, neurovascular surgeries, intracranial vascular stenosis, cerebrovascular disorders, hemorrhagic stroke, and hemorrhage. Technavio, a leading technology research and consulting firm, includes the global external ventricular drain market within the broader healthcare equipment market. This market encompasses manufacturers of various diagnostic equipment and devices used across therapy areas, generating combined revenue from capital equipment, instruments, implants, accessories, and consumables. The healthcare equipment industry is segmented into Devices, which includes advanced, differentiated, and clinically tested data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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